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GFZB shares ideas with CzechInvest - Opens up to learn int. best practices

The Executive Secretary of the Ghana Free Zones Board (GFZB), Mr Michael Okyere Baafi, says the board has positioned itself to learn about best practices from other international investment promotion agencies in the world. He explained that in fulfilment of its mandate, the GFZB needed to be abreast of global investment trends and the flow of capital around investment destinations and develop the right partnerships to attract the needed strategic investments. Mr Baafi was speaking to the Graphic Business after a delegation of the GFZB met with officials of CzechInvest, the investment promotion agency of the Czech Republic, on Monday 25 September to share insights into how to attract foreign direct investments around the world. "It is important that we engage the agencies around the world with the proven track record of attracting massive foreign direct investments into their respective countries and learn from them. "We also believe that the knowledge sharing experiences also provide us with the opportunity to strengthen our institutional capacity," he explained. He said after its first-ever investment promotion mission, the board would be undertaking very targeted investment missions to some parts of the world to attract the needed strategic investments. Receiving the delegation, the Business Development Manager for the Life Sciences Sector of CzechInvest, Ms Hana Chlebna, indicated that the agency, since its establishment in 1993, had brought in 1,728 approved projects of a total value of $390 billion and generated 274,909 new jobs. She said one of the critical success factors in attracting foreign direct investments was a solid infrastructure, adding that potential investors looked out for whether the country had a very good infrastructural base.